In the context of the effects of global crises, such as the Covid-19 pandemic, the war in Ukraine, the energy crisis, prices on the Romanian energy market have experienced a series of major fluctuations. Thus, the paper aims to investigate how prices on the Romanian energy market (the price of electricity, natural gas and coal) mutually intercondition under the influence of macroeconomic factors, such as inflation and the exchange rate. Since the data are monthly, the VAR method will be used, which is a useful method for investigating how the selected variables respond to external shocks. The analysis period is January 2013 - December 2024, data collected monthly. The results obtained suggest that prices on the Romanian energy market are deeply interconnected. Electricity prices are sensitive to their own past developments and to coal prices. In contrast, natural gas prices are strongly affected by electricity prices, while coal and oil prices are sensitive to their own market changes. As for macroeconomic variables, inflation and exchange rate, the results show that they have a smaller impact on electricity prices in Romania. Our results provide empirical support both for energy decision-making and for companies to adjust their risk management and investment planning strategies.

This study examines the relationship between energy consumption and energy-related CO₂ emissions for a sample of 79 reporting entities, grouped into seven regions, over the period 2013–2023. The methodology uses three empirical tools: (i) Tapio elasticity to classify types of decoupling; (ii) Kaya–LMDI decomposition to identify factors that determine emissions; and (iii) a log-difference panel model to separate year- and country-specific effects. The results indicate a reduction in carbon intensity in all regions, more pronounced in Europe and North America. According to the Tapio classification, Europe is in recessive decoupling, the Middle East is on the verge of expansive decoupling, North and South America are in strong expansive decoupling, and Asia Pacific, Africa, and CIS show only weak signals of expansive decoupling. The LMDI results show that, in regions with strong decoupling, the decrease in carbon intensity contributes to reducing emissions. In those with weak decoupling, the effects are partially canceled out by population growth and energy demand. Finally, the fixed-effects panel model does not identify any structural decoupling at the regional level. Overall, this study contributes to the literature by separating long-term structural effects from annual fluctuations. On this basis, we provide clear guidelines for designing regional energy policies.

The EU’s Circular Economy Action Plan has guided significant changes in recent years in terms of customer behaviour, public or private models and processes. One of the biggest supports came from the education system that plays an important role in ensuring a correct and efficient application of the policy. Therefore, our study is set to fill in the gaps in the current literature by analysing the correlation between the main pillars of circular economy and higher education to determine the existence of such influence and the pattern that each EU member state follows. The results have shown full and partial validations of the considered hypotheses, with the higher education drivers having significant impact on recycling rates and waste generation, and less on the value added to the economy.

This article examines the intricate relationships between carbon dioxide (CO2) emissions and key socio-economic indicators across various sectors. Utilizing different statistic methods, we scrutinize the interdependencies between air emissions and indicators such as Gross Domestic Product (GDP), education, life expectancy, pesticide use, recycling rates, agricultural production, net income, and tourism. Our analysis reveals a complex panorama where economic growth, indicated by GDP, agricultural output, and tourism, exhibits a strong positive correlation with CO2 emissions, suggesting that economic activity is a significant driver of environmental impact. Intriguingly, life expectancy also correlates positively with emissions, potentially reflecting the dual facets of industrial development, which, while boosting living standards and healthcare, concurrently increases environmental burdens. Conversely, educational attainment shows a negligible correlation, hinting at the potential for decoupling intellectual capital from carbon output. Through a robust statistical approach, this study underscores the multifaceted linkages between emissions and socio-economic health, highlighting areas for policy intervention and sustainable development strategies to balance economic advancement with environmental stewardship.

Research background: Within the agri-food sector, listed companies classified in the Fishing and Farming category face increasing pressure to integrate sustainability practices into business operations, yet the relationship between environmental, social, and governance (ESG) factors and financial performance remains insufficiently explored. The growing relevance of Sustainable Development Goals (SDGs) in corporate strategy has intensified the need to understand how ESG commitments translate into measurable financial outcomes, especially in resource-intensive industries. Purpose of the article: This research examines how sustainability relates to the financial performance of listed fishing and farming companies that report SDG information, by analysing ESG practices alongside SDGs. Methods: Data were drawn from the London Stock Exchange Group database for listed companies classified under the Thomson Reuters Business Classification. Only firms disclosing SDG-related information were retained in the final sample. Financial performance is measured by means of return on common equity, return on assets, and income after tax margin. The methodology combines quantile regression, capturing differences across low, median, and high financial performance levels, with Bayesian network analysis to explore overall interlinkages, direct and indirect, between variables. Findings & value added: Results show that the relationship between sustainability and financial performance is strongly influenced by the firms’ performance position. While ESG practices can support financial performance, some may also generate short-term cost pressures. The study's novelty lies in its focused analysis of Fishing and Farming, its integration of ESG sub-scores with SDG contributions, and its examination of firms across the conditional distribution of financial performance, revealing important differences across quantiles. In the long term, this study contributes to sustainability theory by establishing that the relationship between financial performance and sustainability, whether measured through ESG factors or SDG contributions, is performance-conditional, urging future frameworks to incorporate firm-level heterogeneity when modelling sustainability outcomes in agricultural sectors.